AgdaPkt 2008-02-25 - Laserfiche WebLink

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8A Page 3 taxes passed, inciuding six measures to modernize existing utility user taxes. Four af the six super majority vote city tax proposals also passed. Two city incorporation proposais also came before vaters. Whife Wildomar in Riverside County will become the state's 479th city, residents of Oakhurst, in Madera County, tumed back that effort. See `Wildomar' on p. 1. League fiscal consultant Michael Coleman has prepared a preliminary breakdown of the measures. His report can be found online at www.californiac�finarice.can7i#V�TLS. Proposition 1C Funds Available for Affordable Housing for Permanent Low- Interest Laans Gov. Arnoid Schwarzenegger announced the availability af $69.5 million in Prop. 1C funds fior affordable housing projects on Thursday, Feb. 7. The funds will be used to provide permanent low-interest loans for the construction and rehabilitation of affordable apartment homes across California. The funds wil( go toward 14 affordable housing projects in the foflowing counties: Alameda, Frasna, Emperial, Kern, Lake, Los Angeles, San Diego, Santa Clara, Santa Cruz, Sonoma, and Ventura. The Governor, when announcing the availability of these funds, also touted the benefits of an investment which would create new jobs and help boost the state's econorny. The Department of Housing and Community Developmeni has more informafion about Prop. 1C funding online at ww�rr.hcd.ca.aov. Cities Benefit from Affordabte Housing Compliance Monitoring Toal U.S. Communities offers software to help Iocal agencies comply with the camplex requirements of affordable housing laws. The incentives that support affordabls housing often require the public agency to monitor the property for compliance with federal and state affordable housing laws. The public agency's monitoring responsibilities are important to ensure that the full pubkic benefit of the affordable housing praject is realized in return for the incentives provided to the developer. Proper compliance monitoring also will help to ensure the property remains affordable in the evenE of an IRS audit. Compliance monitoring involves reviewing and analyzing regular reports from the owner, as well as periodic site visits to audit tenant fifes and perform physicai inspections. The required monthly reporting can be demanding. The public agency needs a well-organized and dependable system to track, analyze and file the reports. Compliance Monitoring SoEutions—AB 887 Compatible U.S. Communities developed FOCUS Compliance Software, a web-based compliance monitaring software and reporting system for public agencies and developers with afforctabte housing compliance monitoring obligations. The software automates a series of complex and time- consuming income and rent calculafions that must be performed for every tenant to ensure individua! tenants and the overall property are in compliance with federal, state and loca! income and rent restrictians. FOCUS is also compliant with the new requirements of AB 887. Effective Jan. 1, redevelopment agencies must now post infarmation about their affordable housing projects onfine, FOCUS makes this easy to do. 3